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Federated Hermes (FHI)

Federated Hermes, Inc. is a leading global investment manager with $614.8 billion in assets under management as of Sept. 30, 2020. Guided by its conviction that responsible investing is the best way to create wealth over the long term, its investment solutions span equity, fixed-income, alternative/private markets, multi-asset and liquidity management strategies. Providing world- class active investment management and engagement services to more than 11,000 institutions and intermediaries, our clients include corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. Headquartered in Pittsburgh, Federated Hermes' more than 1,900 employees include those in London, New York, Boston and several other offices worldwide.

Company profile

Ticker
FHI
Exchange
CEO
J. Christopher Donahue
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
FEDERATED INVESTORS INC /PA/
SEC CIK
Subsidiaries
EMPEF GP Limited • Federated Administrative Services, Inc. • Federated Advisory Services Company • Federated Equity Management Company • Federated Global Holdings LLC • Federated Global Investment Management Corp. • Federated Hermes (UK) LLP, a United Kingdom limited liability partnership • Federated Hermes European Direct Lending Fund II GP, Sarl • Federated Holdings • Federated Holdings (UK) Limited ...
IRS number
251111467
SEC advisor number
801-78591
FINRA CRD number
169087
AUM ?
$19.96B (as of 25 Jun 20)
Accounts
10 (as of 25 Jun 20)
Employees
16 (10 investment advisory or research)
Address
Federated Hermes
1001 LIBERTY AVENUE
PITTSBURGH
PA 15222
Phone
4122881900

FHI stock data

Analyst ratings and price targets

Last 3 months
Current price
Average target
$36.33
Low target
$32.00
High target
$40.00
RBC Capital
Maintains
Sector Perform
$32.00
2 Aug 22
Keefe, Bruyette & Woods
Upgraded
Outperform
$40.00
29 Jun 22
Deutsche Bank
Maintains
Buy
$37.00
19 May 22

Investment data

Data from SEC filings
Top 50 of 2122 long holdings
End of quarter 30 Jun 22
Value
 
#Shares
 
$641.67M 12.64M
$542.4M 5.49M
$535.1M 2.08M
$521.43M 3.81M
$492.94M 7.98M
$445.52M 1.83M
$415.56M 4.56M
$400.03M 2.61M
$392.41M 180.07K
$391.21M 18.66M
$385.19M 7.35M
$371.79M 5.21M
$352.1M 3.28M
$347.59M 4.06M
$337.74M 2.5M
$306.97M 1.95M
$304.34M 3.81M
$295.54M 24.57M
$274.33M 1.95M
$273.51M 3.55M
$258.69M 5.62M
$258.54M 2.43M
$242.8M 1.68M
$239.9M 19.3M
$235.48M 4.96M
$234.48M 13.61M
$229.05M 5.37M
$226.54M 3.8M
$221.13M 1.31M
$217.42M 2.88M
$209.29M 6.11M
$207.36M 7.64M
$202.59M 5.35M
$201.73M 16.02M
$200.15M 2.09M
$199.75M 420.06K
$188.44M 2M
$184.46M 2.48M
$182.09M 919.44K
$180.91M 713.59K
$178.05M 1.2M
$176.87M 2.93M
$173.18M 4.38M
$168.01M 443.44K
$161.38M 819.65K
$154.67M 1.19M
$152.79M 1.27M
$151M 1.05M
$146.81M 2.81M
$143.65M 264.42K
Holdings list only includes long positions. Only includes long positions.

Calendar

2 Aug 22
18 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 252.98M 252.98M 252.98M 252.98M 252.98M 252.98M
Cash burn (monthly) 4.55M 469.83K (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 7.49M 774.43K n/a n/a n/a n/a
Cash remaining 245.49M 252.21M n/a n/a n/a n/a
Runway (months of cash) 54.0 536.8 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
2 Aug 22 Van Meter Stephen Class B Common Stock Sell Dispose S No No 34.0442 74 2.52K 34,480
1 Aug 22 Nusseibeh Saker Anwar Class B Common Stock Sell Dispose S No No 34.2877 7,000 240.01K 272,814
6 Jul 22 Nusseibeh Saker Anwar Class B Common Stock Sell Dispose S No No 32.2405 26,662 859.6K 279,814
17 Jun 22 Uhlman Paul A Class B Common Stock Sell Dispose S No No 29.2323 1,022 29.88K 341,142
9 Jun 22 Fisher John B Class B Common Stock Sell Dispose S No No 33.7023 33,312 1.12M 538,115
13F holders Current Prev Q Change
Total holders 249 259 -3.9%
Opened positions 32 30 +6.7%
Closed positions 42 33 +27.3%
Increased positions 69 90 -23.3%
Reduced positions 118 96 +22.9%
13F shares Current Prev Q Change
Total value 2.47B 2.75B -10.2%
Total shares 77.55M 80.84M -4.1%
Total puts 23.5K 13.6K +72.8%
Total calls 32.1K 144.8K -77.8%
Total put/call ratio 0.7 0.1 +679.5%
Largest owners Shares Value Change
BLK Blackrock 12.37M $393.13M -4.9%
Vanguard 8.93M $283.86M -3.3%
Setanta Asset Management 5.51M $179.64M 0.0%
Schneider Downs Wealth Management Advisors 3.28M $104.42M +0.4%
GWL Great West Life Assurance 3.03M $96.43M -0.3%
FMR 3M $95.43M -27.3%
STT State Street 2.92M $92.72M -6.6%
Burgundy Asset Management 2.39M $75.91M +2.0%
Charles Schwab Investment Management 2.29M $72.94M +4.7%
Dimensional Fund Advisors 2.25M $71.68M +0.2%
Largest transactions Shares Bought/sold Change
Ruffer 889.65K -1.57M -63.9%
Citadel Advisors 1.66M +1.43M +613.6%
FMR 3M -1.13M -27.3%
Millennium Management 983.95K +983.95K NEW
Thrivent Financial For Lutherans 964.85K +902.61K +1450.3%
Balyasny Asset Management 1.3M +832.05K +178.4%
BLK Blackrock 12.37M -635.22K -4.9%
Schroder Investment Management 182.2K -451.45K -71.2%
Panagora Asset Management 40.7K -407.71K -90.9%
Fuller & Thaler Asset Management 1.25M -372.35K -22.9%

Financial report summary

?
Management Discussion
  • For an explanation of changes for 2020 as compared to 2019, see Federated Hermes' Annual Report on Form 10-K for the year ended December 31, 2020, Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations - Results of Operations.
  • Revenue. Revenue decreased $147.8 million in 2021 as compared to 2020 primarily due to an increase of $307.3 million in Voluntary Yield-related Fee Waivers (see Business Developments - Low Short-Term Interest Rates for additional information, including the impact to expense and the net pre-tax impact) and a decrease in money market revenue of $38.1 million primarily due to lower average money market assets. These decreases were partially offset by an increase in equity and fixed-income revenue of $127.6 million and $46.6 million, respectively, due to higher average assets, an increase of $11.0 million as a result of the consolidation of certain variable interest entities (VIE) not previously consolidated prior to 2021 related to the HCL Acquisition (see Note (2) to the Consolidated Financial Statements) and an increase in alternative/private market revenue of $7.3 million due to the revenue of a previously nonconsolidated entity being recorded to operating revenue beginning in March 2020.
  • Federated Hermes' ratio of revenue to average managed assets for 2021 was 0.20% as compared to 0.23% for 2020. The decrease in the rate was primarily due to the reduction of revenue from higher Voluntary Yield-related Fee Waivers, partially offset by a higher proportion of revenue earned on average equity assets during 2021 as compared to 2020.

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